Announcement • May 18
Senmiao Technology Limited, Annual General Meeting, Jun 11, 2026 Senmiao Technology Limited, Annual General Meeting, Jun 11, 2026. Location: 16f, shihao square, middle jiannan blvd., high-tech zone, chengdu, sichuan, United States Reported Earnings • Feb 16
Third quarter 2026 earnings released: US$0.28 loss per share (vs US$0.54 loss in 3Q 2025) Third quarter 2026 results: US$0.28 loss per share. Revenue: US$358.7k (down 61% from 3Q 2025). Net loss: US$1.02m (loss widened 80% from 3Q 2025). Announcement • Jan 09
Senmiao Technology Limited Appoints Yafeng Li as Chief Financial Officer, Effective January 2, 2026 Senmiao Technology Limited appointed Yafeng Li as Chief Financial Officer effective January 2, 2026. Ms. Li is an Accountant and Certified Tax Agent (China). Ms. Li earned her Bachelor's degree in accounting from Shanxi University in July 1999. Announcement • Nov 21
Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $2.8413 million. Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $2.8413 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,350,000
Price\Range: $1.26
Discount Per Security: $0
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 905,000
Price\Range: $1.26
Discount Per Security: $0
Transaction Features: Registered Direct Offering Board Change • Nov 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 16
Senmiao Technology Limited announced delayed 10-Q filing On 08/15/2025, Senmiao Technology Limited announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 02
Senmiao Technology Receives a Deficiency Notice from the Nasdaq Stock Market On July 29, 2025, Senmiao Technology Limited received a deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that its common stock, par value $0.0001 per share (the “Common Stock”), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice. Nasdaq’s notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until January 26, 2026 (the “Expiration Date”), to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to the Expiration Date. If the Company is unable to regain compliance by the Expiration Date, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, Nasdaq will notify the Company of its determination to delist the Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel. Following the announcement on July 24, 2025 through a press release and a Current Report on Form 8-K, the Company effectuated a 1:10 reverse stock split on July 29, 2025 with trading began on a split-adjusted basis at the market open on that day. Announcement • Jul 02
Senmiao Technology Limited announced delayed annual 10-K filing On 06/30/2025, Senmiao Technology Limited announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.57m market cap). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Mar 12
Senmiao Technology Limited, Annual General Meeting, Apr 30, 2025 Senmiao Technology Limited, Annual General Meeting, Apr 30, 2025, at 09:00 China Standard Time. Location: 16f, shihao square, middle jiannan blvd., high-tech zone, sichuan, chengdu, China Reported Earnings • Feb 16
Third quarter 2025 earnings released: US$0.054 loss per share (vs US$0.099 loss in 3Q 2024) Third quarter 2025 results: US$0.054 loss per share (improved from US$0.099 loss in 3Q 2024). Revenue: US$919.8k (down 43% from 3Q 2024). Net loss: US$565.3k (loss narrowed 40% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Second quarter 2025 earnings released: US$0.05 loss per share (vs US$0.12 loss in 2Q 2024) Second quarter 2025 results: US$0.05 loss per share (improved from US$0.12 loss in 2Q 2024). Revenue: US$745.9k (down 59% from 2Q 2024). Net loss: US$524.7k (loss narrowed 43% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. New Risk • Oct 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.68m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$474k free cash flow). Earnings have declined by 6.8% per year over the past 5 years. Market cap is less than US$10m (US$9.68m market cap). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Reported Earnings • Aug 16
First quarter 2025 earnings released: US$0.064 loss per share (vs US$0.054 loss in 1Q 2024) First quarter 2025 results: US$0.064 loss per share (further deteriorated from US$0.054 loss in 1Q 2024). Revenue: US$1.12m (down 46% from 1Q 2024). Net loss: US$673.4k (loss widened 57% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 28
Full year 2024 earnings released: US$0.41 loss per share (vs US$0.43 loss in FY 2023) Full year 2024 results: US$0.41 loss per share. Revenue: US$6.81m (down 16% from FY 2023). Net loss: US$3.67m (loss widened 18% from FY 2023). Announcement • Mar 08
Senmiao Technology Limited, Annual General Meeting, Apr 19, 2024 Senmiao Technology Limited, Annual General Meeting, Apr 19, 2024, at 07:00 US Eastern Standard Time. Location: Company's offices at 16F, Shihao Square, Middle Jiannan Blvd., High-Tech Zone, Chengdu, Sichuan, People's Republic of China Sichuan China Agenda: To elect five directors to serve until the 2024 annual meeting of stockholders, or until their successors are elected and qualified or until their earlier deaths, resignations or removals; to ratify the appointment of Marcum Asia CPAs LLP as the Company's registered public accounting firm for the fiscal year ending March 31, 2024; to approve an amendment to the Company's 2018 equity incentive plan, to increase the number of shares of common stock reserved under the Plan to 1,800,000 shares; and to transact such other business as may properly come before the Meeting or any adjournment thereof. Reported Earnings • Feb 11
Third quarter 2024 earnings released: US$0.099 loss per share (vs US$0.13 loss in 3Q 2023) Third quarter 2024 results: US$0.099 loss per share (improved from US$0.13 loss in 3Q 2023). Revenue: US$1.62m (down 7.0% from 3Q 2023). Net loss: US$934.0k (loss narrowed 3.8% from 3Q 2023). Announcement • Dec 15
Senmiao Technology Eligible for an Additional 180-Day Period, or Until June 10, 2024, to Regain Compliance As previously disclosed, Senmiao Technology Limited (the “Company”) received a deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that its common stock, par value $0.0001 per share (the “Common Stock”), failed to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. On December 13, 2023, the Company received another notice from Nasdaq indicating that the Company is eligible for an additional 180-day period, or until June 10, 2024, to regain compliance. Such determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If at any time during this additional time period the closing bid price of the Company’s Common Stock is at least $1 per share for a minimum of 10 consecutive business days (the “Minimum Bid Price Rule”), Nasdaq will provide written confirmation of compliance and this matter will be closed. If compliance cannot be demonstrated by June 10, 2024, Nasdaq will provide written notification that the Company’s securities will be delisted at which point the Company may appeal the Nasdaq staff’s determination to a Hearings Panel. The Company intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Rules. New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$1.4m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 2.6% per year over the past 5 years. Market cap is less than US$10m (US$3.06m market cap). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Nov 17
Second quarter 2024 earnings released: US$0.12 loss per share (vs US$0.15 loss in 2Q 2023) Second quarter 2024 results: US$0.12 loss per share (improved from US$0.15 loss in 2Q 2023). Revenue: US$1.83m (down 19% from 2Q 2023). Net loss: US$926.0k (loss narrowed 14% from 2Q 2023). Board Change • Sep 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 30
Senmiao Technology Limited announced delayed annual 10-K filing On 06/29/2023, Senmiao Technology Limited announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jun 21
Senmiao Technology Receives Deficiency Notice from Nasdaq Regarding Non-Compliance with the Minimum Bid Price Requirement On June 15, 2023, Senmiao Technology Limited (the ‘Company’) received a deficiency notice from The Nasdaq Stock Market (‘Nasdaq’) informing the Company that its common stock, par value $0.0001 per share (the ‘Common Stock’), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. Nasdaq’s notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until December 12, 2023, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to December 12, 2023. If the Company is unable to regain compliance by December 12, 2023, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, Nasdaq will notify the Company of its determination to delist the Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel. The Company intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. Reported Earnings • Feb 16
Third quarter 2023 earnings released: US$0.13 loss per share (vs US$0.026 profit in 3Q 2022) Third quarter 2023 results: US$0.13 loss per share (down from US$0.026 profit in 3Q 2022). Revenue: US$1.74m (down 51% from 3Q 2022). Net loss: US$971.3k (down US$1.13m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Second quarter 2023 earnings released: US$0.15 loss per share (vs US$0.076 profit in 2Q 2022) Second quarter 2023 results: US$0.15 loss per share (down from US$0.076 profit in 2Q 2022). Revenue: US$2.24m (down 22% from 2Q 2022). Net loss: US$1.08m (down 358% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 06
Senmiao Technology Launches Ride-Hailing Platform in Harbin, the Capital of Heilongjiang Province Senmiao Technology Limited announced the launch of its proprietary online ride-hailing platform for drivers in Harbin, the capital of Heilongjiang Province. Senmiao launched its online ride-hailing platform in Harbin on June 30, 2022. With the addition of Harbin, Senmiao's platform is now available in 21 cities across China, including six cities in Sichuan Province and 15 major cities in other provinces in China. With a population of approximately 9.9 million, Harbin is the political, economic and cultural center in Northeast China and also a mega city coming first in the area of land under jurisdiction and coming third in registered population among the provincial cities in China. Harbin possesses rich historical, cultural and tourism resources, and is also known as the "Ice City" of China. Harbin is an international comprehensive transportation hub, an important industrial manufacturing base, and a central city for border development. Announcement • Jun 30
Senmiao Technology Limited announced delayed annual 10-K filing On 06/29/2022, Senmiao Technology Limited announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jun 24
Senmiao Technology Launches Ride-Hailing Platform in Guiyang, the Capital of Guizhou Province Senmiao Technology Limited announced the launch of its proprietary online ride-hailing platform for drivers in Guiyang, the capital of Guizhou Province. A total of over 2300 rides have been completed in Guiyang on Senmiao's online ride-hailing platform since it was launched on June 14, 2022. With the addition of Guiyang, Senmiao's platform is now available in 20 cities across China, including six cities in Sichuan Province and 14 major cities in other provinces in China. With a population of approximately 6.1 million, Guiyang is one of the fastest-growing provincial capital cities in China. Guiyang is recognized as one of the key central cities in Southwest China by the State Council and has become the political, economic, cultural, scientific and educational center of Guizhou Province, following the establishment of the Guiyang Free Trade Zone in 2013. Guiyang is also an important transportation and communication hub, driving industry, business and tourism in the southwest region of China. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 17
Senmiao Technology Limited Announces Unaudited Impairment Charges for the Three Months Ended December 31, 2021 Senmiao Technology Limited announced unaudited impairment charges for the three months ended December 31, 2021. For the period, the company reported impairments of long-lived assets and goodwill was $7,982 against $41,983 a year ago. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: US$0.003 (up from US$0.07 loss in 3Q 2021). Revenue: US$3.54m (up 116% from 3Q 2021). Net income: US$155.5k (up US$3.24m from 3Q 2021). Profit margin: 4.4% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Announcement • Feb 05
Senmiao Technology Launches Ride-Hailing Platform in Haikou, the Provincial Capital of Hainan Province Senmiao Technology Limited announced the launch of its proprietary online ride-hailing platform for drivers in Haikou, China. Over 2,000 rides have been completed in Haikou on Senmiao's online ride-hailing platform since the platform was launched on December 17, 2021. With the addition of Haikou, Senmiao's platform is now available in 14 cities across China, including six cities in Sichuan Province and eight major cities in other provinces in China. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sichun Wang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 01
Senmiao Technology Limited Launches Ride-Hailing Platform in Suzhou Senmiao Technology Limited announced the launch of its proprietary online ride-hailing platform for drivers in Suzhou, China. With the launch in Suzhou, Senmiao's platform is now available in 12 cities across China, six cities in Sichuan Province and six major cities in other provinces in China. Reported Earnings • Nov 18
Second quarter 2022 earnings released: EPS US$0.008 (vs US$0.058 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: US$2.86m (up 105% from 2Q 2021). Net income: US$419.9k (up US$2.61m from 2Q 2021). Profit margin: 15% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Jun 30
Senmiao Technology Limited announced delayed annual 10-K filing On 06/29/2021, Senmiao Technology Limited announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • May 14
Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6.500001 million. Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6.500001 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,531,916
Price\Range: $1.175
Discount Per Security: $0.088125
Security Features: Attached Warrants
Transaction Features: Registered Direct Offering Announcement • May 12
Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6.500001 million. Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6.500001 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,531,916
Price\Range: $1.175
Discount Per Security: $0.088125
Security Features: Attached Warrants
Transaction Features: Registered Direct Offering Announcement • Mar 10
Senmiao Technology Limited Announces over 710,000 Completed Rides on its Ride-Hailing Platform in February 2021 Senmiao Technology Limited announced operating metrics for its proprietary online ride-hailing platform for the month of February 2021, which showed a sequential decrease in number of completed rides (known as orders) and active ride-hailing drivers who completed rides and earned income via the platform (known as Active Drivers) from January as a result of seasonality driven by the Lunar New Year holiday in China. The number of completed rides decreased in the two weeks of mid-February 2021 due to the national holiday but rose back to pre-holiday levels in the last week of the month. Since its launch in Chengdu in October 2020, in Changsha in December 2020 and in Neijiang in January 2021, over 2.9 million rides have been completed using Senmiao's online ride-hailing platform, including over 710,000 rides during February 2021. The growth rate of the number of completed orders and Active Drivers from December 2020 to February 2021 was approximately 15% and 16%, respectively. In addition, at the end of February 2021, approximately 32% of Active Drivers also lease automobiles from Senmiao, which demonstrates early results from Senmiao's strategy to cross sell its core ride-hailing focused automobile finance and leasing business with the newer ride-hailing business. Reported Earnings • Feb 20
Third quarter 2021 earnings released: US$0.07 loss per share (vs US$0.032 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$1.64m (down 40% from 3Q 2020). Net loss: US$3.08m (loss widened 232% from 3Q 2020). Is New 90 Day High Low • Feb 20
New 90-day high: US$1.84 The company is up 63% from its price of US$1.13 on 20 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 22% over the same period. Announcement • Feb 11
Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $7.000002 million. Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $7.000002 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,072,465
Price\Range: $1.38
Discount Per Security: $0.1035
Transaction Features: Registered Direct Offering Announcement • Feb 06
Senmiao Technology Limited Announces Expansion of Cooperation with Shanghai Lutuan Technology, an affiliate of Meituan Senmiao Technology Limited ("Senmiao") announced the signing of a strategic cooperation agreement that expands upon a previously announced partnership with Shanghai Lutuan Technology. Following the initial success of the Senmiao-Meituan cooperation in Chengdu, this new strategic cooperation agreement sets the framework for future collaborations between the parties in other cities in China. As part of its strategy, Senmiao next anticipates building out a total solution for ride-hailing drivers in Guangzhou, which will include financing arrangements, rentals, integration of safety features, as well as the launch and development of Senmiao's proprietary online ride-sharing platform.
If Senmiao's platform is selected by the rider or by the Meituan application, the order will then be distributed to registered drivers on the platform for viewing and acceptance. Senmiao earns commissions for each completed order based on a certain percentage of the value of the order. Announcement • Feb 02
Senmiao Technology Announces Strategic Cooperation Agreement with Electric Vehicle Charging Operator Chengdu Xingchong Senmiao Technology Limited announced the signing of a strategic cooperation agreement with Chengdu Xingchong New Energy Technology Co. Ltd. ("Chengdu Xingchong"), a subsidiary of Star Charge. The strategic cooperation agreement serves as a framework for future business terms under which Senmiao's ride-hailing drivers and their clients will receive more favorable rates at Chengdu Xingchong charging stations, and the two companies expect to leverage their respective brands and resources to promote the use of EVs. This includes but is not limited to jointly developing system solutions for cars, charging terminals, stations and networks, and working together to gain support from local governments. Announcement • Dec 20
Senmiao Technology Limited Announces the Launch of its Proprietary Online Ride-Hailing Platform, Xixingtianxia, for Drivers in Changsha, China Senmiao Technology Limited announced the launch of its proprietary online ride-hailing platform, Xixingtianxia, for drivers in Changsha, China. Changsha is the second city in China in which Senmiao has launched its platform (along with Chendgu in late October 2020 The expansion to Changsha is strategic for Senmiao, as it has previously served as a core city in which Senmiao initially provided auto financing and leasing services for the ride-hailing market. Changsha is the capital and highest populated city in Hunan Province in China, with approximately 8 million people. In recent weeks, Senmiao has strengthened the total solution it provides to ride-hailing drivers through collaborations with integration platforms in China, such as Gaode Map and Meituan (HK: 3690). Senmiao expects
its service in Changsha to grow through the integration of these applications with its platform in the near future. Announcement • Dec 03
Senmiao Technology Limited Announces Initial Results from First Month of Operations in Chengdu Senmiao Technology Limited announced initial results from its first month of operations in Chengdu following a strategic cooperation with Shanghai Lutuan Technology. Over the past several weeks, Senmiao has focused on building out a total solution for ride-hailing drivers in Chengdu, which includes financing arrangements, leasing, rentals, integration of safety features, and most recently, the launch and development of Xixingtianxia, Senmiao's proprietary online ride-sharing platform. The Company has signed agreements with affiliates of BYD Company Limited (electric vehicle manufacturer) for purchase of electronic vehicles, and has now begun to integrate services with popular apps in China, such as Gaode Map and now Meituan. Meituan is focusing on its "Food + Platform" strategy to build a multi-level technology service platform, covering the whole process from demand to supply in people's daily lives. Potential riders utilizing Meituan's application can also request transportation on the application. Under Senmiao's collaboration with Meituan, when a rider using Meituan searches for taxi/ride-hailing services on the platform, the platform provides this rider a number of online-ride sharing companies for selection, including Senmiao's platform, Xixingtianxia. If selected by the rider or by the Meituan application, the order will then be distributed to registered drivers on Senmiao's platform for viewing and acceptance. Senmiao earns commissions for each completed order based on a certain percentage of the value of the order and settle its commissions with Meituan on a weekly basis. Senmiao intends to launch its Xixingtianxia platform in Changsha, China in the coming weeks. Announcement • Nov 26
Senmiao Technology Announces Strategic Cooperation with Gaode Map for Utilization in Ride Sharing Initiatives Senmiao Technology Limited announced initial results from its strategic cooperation with Gaode Map one of China's leading map applications, to integrate its mapping functionality with Senmiao's online ride-sharing platform, Xixingtianxia. Senmiao's platform is targeting drivers and riders in Chengdu, China, one of its core cities with a population of approximately 16 million. Gaode is one of China's most popular map apps, and its operator AutoNavi Software Co. Ltd. is a Chinese web mapping, navigation and location-based services provider, founded in 2001 and acquired by Alibaba Group in 2014. Xixingtianxia signed a strategic collaboration agreement with Gaode in April 2020 and drivers began utilizing Gaode's map in Chengdu since Senmiao's acquisition of Xixingtianxia in late October. Gaode's map application will also be utilized by drivers in newly purchased vehicles by Senmiao as part of its previously announced framework agreement with electric vehicle (EV) manufacturer BYD Company Limited. Announcement • Nov 19
Senmiao Technology Announces Launch of Proprietary Ride-Sharing Platform Senmiao Technology Limited announced that it has recently launched Xixingtianxia, its own proprietary online ride-sharing platform, to drivers and riders in Chengdu, China, one of its core cities with a population of approximately 16 million. Through its automobile transaction and related services business, Senmiao has created partnerships with ride-hailing services in China. As part of its goal to provide an all-encompassing solution for ride-sharing drivers, Senmiao is now operating its own online ride-sharing platform as a means of connecting drivers and riders in Chengdu. Senmiao believes that the availability of more online platforms to drivers and riders can help grow its financing and car leasing businesses. Senmiao began to roll-out Xixingtianxia in specific markets within Chengdu in late October 2020, specifically to current driver customers. Senmiao expects to generate revenue from Xixingtianxia by earning fees and commission on a per ride basis, and has created what it hopes will be a stable growth plan for Xixingtianxia focused on ensuring that its technology performs as expected. In the past several weeks, Senmiao has expanded marketing of Xixingtianxia to a larger pool of potential drivers and riders in Chengdu. Announcement • Nov 17
Senmiao Technology Limited to Report Q3, 2020 Results on Nov 20, 2020 Senmiao Technology Limited announced that they will report Q3, 2020 results on Nov 20, 2020 Announcement • Nov 05
Senmiao Technology Limited Announces Signing of Framework Agreement with Internet of Vehicles Provider Luxingtong Senmiao Technology Limited announced the signing of a framework agreement with Chengdu Luxingtong Information Technology Co. Ltd. ("Luxingtong"). Under this agreement, Senmiao intends to utilize Luxingtong's platform of integrated vehicle services for ride-sharing vehicles in Senmiao's core markets of Chengdu and Changsha in China. Senmiao's primary objective is to provide an all-compassing platform for ride-sharing drivers, including automobile sales, integrated technology, network implementation, and financing options. Under the agreement, Senmiao will install telematics and safety services systems on vehicles, which will include functions and services such as global positioning and vehicle collision detection. Luxingtong will monitor and manage collected data for Senmiao, leveraging its connected car network to generate more precise information and analysis on Senmiao's ride hailing drivers and allow for Senmiao to both monitor and optimize its fleet. Announcement • Sep 09
Nasdaq Grants Senmiao Technology an Extension to Regain Compliance with the Rule As previously disclosed in the Current Report on Form 8-K filed on July 14, 2020, on July 10, 2020, Senmiao Technology Limited (the “Company”) received a deficiency notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) informing that the Company failed to maintain a minimum of $2,500,000 in stockholders’ equity required for continued listing (the “Stockholders’ Equity Requirement”) on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1) based upon the reported stockholders’ equity of $1,472,357 in the Company’s annual report on Form 10-K for the fiscal year ended March 31, 2020 and that as of July 10, 2020, the Company did not meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations (the “Alternative Compliance Standards”). To regain compliance with the Stockholders’ Equity Requirement or the Alternative Compliance Standards, the Company had a period of 45 calendar days from the date of the Notice, or until August 24, 2020, to submit a plan (the “Plan”). The Company timely submitted the Plan to regain compliance which was accepted by Nasdaq. Among other things, the Plan demonstrated that the Company consummated an offering of its common stock, which has increased the Company’s stockholders’ equity by approximately $5.3 million. The Plan also called for the Company to consummate a second strategic transaction in order to sustain compliance. For this, the Company will rely on the previously announced third party equity investment into the Company’s subsidiary, Sichuan Jinkailong Automobile Leasing Co. Ltd., which the Company expects to close by December 31, 2020, and through which the Company expects to increase its stockholders’ equity by approximately $12.5 million (the “Equity Infusion into Jinkailong”). On September 2, 2020, Nasdaq granted the Company an extension to regain compliance with the Rule. The terms of the extension require the Company provide Nasdaq an update regarding the status of the Equity Infusion into Jinkailong on or before November 16, 2020, and file the Company’s Form 10-Q for the quarterly period ended September 30, 2020, thereby evidencing compliance with the Rule. Although the Company believes it will be able to regain compliance with the Stockholders’ Equity Requirement, there can be no assurance that the Company will be able to regain compliance with the Stockholders’ Equity Requirement, the Alternative Compliance Standards or will otherwise be in compliance with the other listing requirements set forth in the Nasdaq’s listing rules (including the requirement of a $1 minimum bid price, which is the subject of a separately, previously announced delisting notice from Nasdaq that the Company has until December 11, 2020 to comply with). Announcement • Aug 15
Senmiao Technology Limited announced delayed 10-Q filing On 08/14/2020, Senmiao Technology Limited announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 06
Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6 million. Senmiao Technology Limited has completed a Follow-on Equity Offering in the amount of $6 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 12,000,000
Price\Range: $0.5
Discount Per Security: $0.04 Announcement • Jul 18
Senmiao Receives A Deficiency Notice from Nasdaq Stock Market On July 10, 2020, Senmiao Technology Limited (the “Company”) received a deficiency notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) informing that the Company failed to maintain a minimum of $2,500,000 in stockholders’ equity required for continued listing (the “Stockholders’ Equity Requirement”) on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1) based upon the reported stockholders’ equity of $1,472,357 in the Company’s annual report on Form 10-K for the fiscal year ended March 31, 2020 and that as of July 10, 2020, the Company did not meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations (the “Alternative Compliance Standards”). The Company has a period of 45 calendar days from the date of the Notice, or until August 24, 2020, to submit a plan to regain compliance with the Stockholders’ Equity Requirement or the Alternative Compliance Standards (the “Plan”). If the Plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to regain compliance.